Victoria's most popular tree-change towns and where to look instead
The number of sea changers and tree changers escaping the city in search of bigger homes, a backyard and a slower pace of life, has turned into a “tidal wave” since COVID-19 changed the way we live and work.
Dubbed the “covid-change,” real estate agents in many coastal and regional towns across Victoria, say they have never been busier since the “ring of steel” that prevented Melburnians from travelling to the regions at the height of Victoria’s extended lockdown was lifted in early November.
The influx of would-be buyers from the city has seen prices in many of the state’s most popular sea change and tree change towns, pushed up even further, and hopeful covid-changers might be feeling disheartened as median house prices in some regions rival those in the suburbs.
But buyer advocate Cate Bakos says there are still plenty of opportunities to snap up a covid-change home along the coast and in other popular tree change areas, such as the Macedon Ranges and Hepburn Shire if people are willing to consider some of the “smaller, less heard of locations” or “veer a little bit outside” of their dream destination.
“The great thing about the regions is that there is such an abundance of choice that you don’t have to venture far from your chosen area to find something that is a little bit cheaper,” she says.
St Leonards and Portarlington
Ms Bakos singles out St Leonards and Portarlington and Indented Head on the Bellarine Peninsula.
“For example, if you look at the Surf Coast, everyone is racing to Anglesea and Torquay and even Lorne, but if you start looking at the Bellarine Peninsula, you might not have the surf beach, but I think there are parts of St Leonards and Portarlington that are absolutely to die for,” she says.
The median price for a three-bedroom house in St Leonards is $533,000, and $631,000 in Portarlington. This compares to $905,000 in Anglesea and $964,000 in nearby Barwon Heads, according to figures on the Domain website.
“Portarlington has become quite popular all of a sudden and there’s a lot of reasons why it’s popular, but if you look at St Leonards and Indented Head and even Clifton Springs, you can get some great properties in a beautiful part of the state that represent really great value,” she says.
Jarrod McCabe, a director at Wakelin Property Advisory, says the seismic shift in the way we work since the pandemic hit our shores, means buyers looking to make a sea change can find great value along the coast by looking that little bit further than they may have pre-covid.
“Where previously, most people would’ve said they need to be within an hour to 1.5 hours of the city, people are now looking at places that are up to 1.5 to 2 hours from Melbourne because they may only have to commute to work in the city a couple of times a week,” Mr McCabe says. “And, that is why areas like Inverloch and Phillip Island are becoming a more appealing option for a lot of people.”
Inverloch
Mr McCabe says Inverloch, a small coastal town on the Gippsland coastline just under two hours from Melbourne, is attracting a growing number of sea changers seeking a “community feel” rather than the more transient communities you sometimes find in other popular holiday spots.
He says Inverloch also provides “good value” compared to many of the more established coastal towns along the Bellarine and Mornington peninsula.
“There are still a few, relatively affordable options on the Bellarine Peninsula in places like Portarlington and Clifton Springs but as an alternate from the two peninsulas, I think Inverloch provides really good value,” he says.
According to figures on Domain’s website, the median price of a three-bedroom house in Inverloch is $580,000.
“You can still pick up some relatively affordable homes in Inverloch within walking distance to the beach,” Mr McCabe says. “But, not only has it got great family beaches and surf beaches, it’s also got a real community feel to it too with the local football club and golf club and those sorts of things,” he says.
“I think people who are looking for a sea change rather than a holiday beach house want to be able to feel part of the community, so somewhere like Inverloch that is that little bit farther away from the city means you do get that community feeling that some other more popular holiday spots don’t offer.”
Cowes and Rhyll, Phillip Island
Bec Anderson, of Ray White Phillip Island, says she has seen a “tidal wave” of buyers from Melbourne looking to purchase homes in the popular holiday destination since restrictions eased in November, allowing Melburnians to travel to regional Victoria.
Situated 120 kilometres from Melboune, Ms Anderson said city buyers are eyeing off properties from San Remo to Cowes.
“We’ve had an absolute tidal wave of people from Melbourne wanting to purchase a home either as part of a permanent relocation or as a second place of residence where they can split their time between here and Melbourne,” she says.
“Because a lot of people are no longer restricted to the city for work and can now work remotely or work from home for a large part of the week, Philip Island is becoming a really popular option for a lot of people,” she says.
As a result, Ms Anderson says housing supply on the island is struggling to keep pace with the increased demand.
“Stock levels are extremely low for this time of year,” she says. “As an example, I’m currently holding five properties that are not yet under offer. This time last year I was holding around 18 properties. It’s a significant difference which reflects the strong demand we’ve been seeing.”
Ms Anderson says demand has also been pushing prices up in the area, particularly in towns closest to the ocean, such as Cowes and Rhyll, which currently have a three-bedroom median house price of $577,000 and $593,000, respectively, according to figures on the Domain website.
“In the last six to eight weeks since the metro border was lifted and Melburnians could start coming to inspect properties, we have seen a really competitive market that has driven prices up,” she says.
“Cowes probably attracts the most interest because it’s most well known and it’s got a lot of great restaurants and cafes. But, people come down and discover a lot of the other areas that they perhaps don’t know about and anything close to the water is in high demand,” she says.
Glenlyon, Blackwood
In the popular tree change regions of Hepburn and the Macedon Ranges, where towns such as Daylesford, Macedon and Trentham are tightly held and prices are rising accordingly, alternatives such as nearby Glenlyon, Blackwood and Clunes are providing a more affordable and just as charming alternative for covid-changers.
Will Walton, of Belle Property Daylesford, says while the area has always been popular with tree changers, demand for properties has skyrocketed since the pandemic.
“The whole work from home arrangement because of covid has completely changed the property landscape,” he says.
“In the past, we would attract a lot of people in senior managerial roles or people who owned their own business. They’d buy something here and then you’d find they’d arrive on a Thursday night, work here on Friday and drive back on Monday afternoon, so they’d get a four day weekend here. But, that was typically someone approaching their mid-50s or higher.”
He says since covid, he is see a growing number of younger people relocating to the area.
“We’re starting to see all these 35 and 40-year-olds, who unlike the older ones, have found themselves frozen out of the inner-city property market,” he says.
For those also finding themselves priced out of hot spots such as Daylesford, Hepburn and Trentham, Mr Walton says nearby towns such as Glenlyon and Blackwood are becoming increasingly popular among young professionals who may still need to commute to the city a couple of times a week for work.
“Glenlyon is fantastic. It’s got a beautiful general store and is surrounded by wineries and you can jump in your car and 15 minutes down the road you’re in Daylesford and an enormous array of award-winning cafes and restaurants,” he says.
Mr Walton says the region’s food and good coffee was a drawcard for many young professionals looking to escape the city after lockdown.
“Inner-city people, whether they’re from Northcote or Elwood or St Kilda or Prahran quite frankly feel like they’re in a sort of urban utopia in the country,” he says.
“They can enjoy a good coffee, the Wi-Fi works really well, we’re surrounded by contemporary retail stores and Melbourne is still conveniently close.”
Ms Bakos says for those with their heart set on purchasing a home in more sought-after locations like Daylesford and Trentham, home buyers could also consider buying a house on a smaller block.
“If people find they are getting priced out of period homes on big blocks of land, they should bear in mind that if there are homes, but on much less land, then that will give them that cheaper option to buy in their dream location,” she says.
We recommend
States
Capital Cities
Capital Cities - Rentals
Popular Areas
Allhomes
More
